the underlying value however the intrinsic value however is increasing is increasing ok and now everybody calls ben bernanke and the e.c.b. in the bank of england. keynesian but they are fighting this war against the austrians and they're doing it intentionally for the austrians because austrians would say there is no intrinsic value there's no such thing because all value comes from human consciousness is what humans perceive something as being worth that's what the worth is so he says this is what hugo salinas price who was a good friend of me sees by the way so he is an austrian school following the wikipedia dot org definition the psyops war on gold is intended to influence the target audiences value system belief system emotions motives reasoning and behavior i would add especially this last which is what directly affects the price of gold well you know austrian school going back to karl manga is a transition from medieval economics to more of

a post medieval economics and this idea of value is in the eye of the beholder gives the same connotations as knowledge is in the the it's kind of like know that or there's kind of like the i think therefore i am when it comes to economics karl manga brought this fresh way of thinking that the value is what i think it is so that's very interesting and very important so we're going to look at what how he says the most important is behavior so we're going to look at the behavior around the world and whether or not the kings in acting with an austrian mindset towards their purposes in this cold war whether they're achieving it so first we're going to head east where all the gold is flowing gold and times per perth mint. then we have a headline three fold increase in demand for gold this isn't india and we also see this in bangkok maxa talking about traffic jams on the sidewalks outside shops gold bullion shops in bangkok the scene in india they're seeing it three our four hour

waits in australia but that's our show our show is seen globally and the idea of keeping gold suppressed is local it's local to the west keynesian money printing propaganda wars but globally people understand people globally our show is global they buy gold. so well where they to me where these concepts meet where the psychological war with the belief in in paper and the mighty miss of paper meets in japan which is over in asia of course where everybody else is consuming consuming and buying japanese see gold as hedge against stocks and yet so we know that the gold price and yen had an all time high right before the price crashed and a lot of people are now lining up seven hour long waits outside gold bullion shops in ginza and a lot of them are doing it because banks pay no interest on their deposits they're

also a fearing war but some japanese are also harbor fears that the expansionary monetary and fiscal policies known as a banal mix coupled with the national debt more than twice as largest annual economic output could set off a crisis that's true that's why they're buying gold over there in a new all time high just a couple of weeks ago that set off the paper bugs avalanche of sales in the paper market and it will have a new all time high in the end probably next two or three weeks and that'll be another waterfall effect against forgot currencies so that's the wharf right there in japan now the interesting thing about this of course is in the years leading up to the global financial crash it's been mrs watson i'll be the investor in america who's mrs watson abi the investor in japan who deals with the household finances and she's spending gauging for its market trading paper especially going into icelandic krona for example so now if they're actually instead of playing in the paper market they're playing in the physical this is where the new york times suggest in this piece that the mrs watson abhi the proto typical marginal buyer or

seller in japan who's been in and out of forex is now buying physical is out you're saying if that's true then gold is going to ten thousand dollars an ounce if that's true stacey can you categorically state right here that what you just said is not. falshood it is unimpeachably correct is that what you're saying this is what you know we. have a little job that is woman well it would be important in terms of the psychological war the fact that it's backfired in this case here has been the one of the most passionate participants in the whole paper bubble that has emerged over the past decade because it came back to japan has been artificially lowering interest rates down to zero to give banks and what on wall street a way to borrow money at near zero to speculate for free mrs watson and he's been you know the japanese housewife has been who oversees the japanese savings which is the highest in the world i think we should make the point they've got

a quadrillion in yen and savings that they can use being dictated by the housewife's because the japanese men are famously down at the pub drunk off their keester on whiskey they don't know the difference between a dollar and a football so mrs watson nobby to mrs japanese housewife was making the decisions made been in the paper market if they go into the physical gold market it's good night i remain for the central bankers like ben bernanke. so let's look over into the west here in europe you know where there's been massive psychological war that is beating down the people so let's see what's happening well look at greece and ireland headline reads disposable income in greece felt eight point three percent in q four of two thousand and twelve consumption down eleven point two percent so max total income is now down disposable income is down thirty percent since the crisis began savings fell by five point nine percent in the fourth quarter and now thirty percent of the population of greece say they they it

was better for them and they would prefer then the their i'm ocracy no they said that they prefer the one to over the troika. the junta over the troika the hood didn't try to shuffle them up on railroad cars to concentration camps did they they just were a military occupation the troika is like oh let's all incinerate everybody because we can't afford to keep them fed after we stole all their money and then similarly over in ireland not only do you have horrible wave of suicides but in terms of the psychological war what they want is the capitulation and obedience and you see that in this next story irish debtors face ban on vacations caps on food spending irish bar was struggling to meet their loan repayments may be banned from taking vacations and face limits on how much they can spend on food under guidelines published by the country's personal insolvency service to open a person in ireland now and i think the solution there would be to instigate new

economic policies monetizing better so the bank of ireland would be capitalized by butter because there's a lot of butter in ireland it could be a butter based economy there would rule the world would be better dollars but our dollars could border coins could replace bitcoins. well monthly individual living expenses for people seeking debt relief may be capped at thirty five point seven three euros for clothing two hundred forty seven and fourpence euro's for food and thirty three forty euros for personal hygiene items so they have specific numbers it's very controlled it is like being a cattle or sheep people know exactly you know the farmer knows exactly how many calories they're going to feed this sheep before it gets sent off to the slaughter every single sheep and cattle is very carefully modulator dislike of you know big opera twaddle they've got all these irish people they're going to line them up

still all their money they've got to carefully calibrate every piece of the life. well the guidelines they set are set to a standard of living that is based on needs not wants so this is the psychology you have to they're trying to alter people's perceptions your life should be based on your needs not your wants which is the end of capitalism by with the way that's the junta that's what the junta would tell you that's what the totalitarian government would tell you your life style that we're willing to give you is based on your needs not your wants so let's move on to the final have on them max oh look representative mike rogers wife stands to benefit greatly from cispa passing it would appear that representative mike rogers the main person in congress pushing for has kept rather quiet about a very direct conflict of interest that calls into serious question the entire bill it would appear that rogers wife stands to benefit quite a lot from the passage of sis and has helped in the push to get the bill passed so his wife's name was christie clemens rogers and she was a former c.e.o.

of a just some big security firm now she's a lobbyist for all these security firms and the security firms are the defense contractors are the ones pushing for cispa which is the invasion of online privacy now it's passed in congress just like sopa passed congress as well easily and as supposed to go to the senate and to the white house to decide whether it passes that it's uncertain but we know this is a psychological war that they'll break us down eventually they'll keep on using terror attacks and false flags and and crazy people out on the street who just go crazy one day is that because that guy went crazy we need to watch everything you do well i've got a new hashtag on twitter called. america fatigue so whether it's the or somebody getting blown up in boston or whatever it's just america fatigue it's a country in decline it's less than four percent of the global g.d.p. they produce twenty five percent of the global garbage let's dump it get rid of it

do ignore it and maybe they'll go away and the rest of the world can buy gold and be happier ever after stacy or thanks so much for being on the kaiser report. thank you all right states over the second half i was thinking what the wall for. millway thing should go in the republican texas and be a whole lot better off than the state of. texas has got its own like. has got all the hall and gas and everything to me it's got all that and. everything in me can survive but the rest united states would say the risk. i'm not. with. was.

striving for a bridge and an independent future. republican texas analyse. me .

live. under. the international airport in the very heart of moscow. welcome back to the kaiser report imax guys are time now to go to california and talk with wolf rector of testosterone pit dot com wolf welcome to the kaiser report

thank you max for having me all right wolf the euro took a tumble this week on suggestion of a rate cut what's going on there. well i don't think the rate cut is going to make a huge difference the rates are already so low and so markets reacting a little bit but. rate cut stem cells are not the primary movers here i think when the when and if the e.c.b. decides to. buy more bonds when when it does that there will be a big move about the rate cut in itself if it happens i don't think has a huge impact well it sounds like they're setting themselves up for more what's called quantitative easing just like the bank of england will engage in more quantitative easing the federal reserve bank is already eighty five billion or so a month and in buying of its own bonds so the entire globe now with the e.c.b.

was lagging sounds like the e.c.b. will join the arms race toward who can solve destruct the fastest by lowering rates and buying lots of of their own paper now professor peter bofinger an economist advisor to merkel said this week that over the next ten years the rich should give us a portion of their assets like vacation homes in spain so quantitative easing is not enough wealth they want to take the people's houses to your thoughts. well it's certainly an interesting twist so far in the bailouts the people who have paid more usually the pension nears the lower class people who've seen many more wage cut in greece for example private sector employees public sector employees they all have been paying for these bailouts and of course taxpayers now the countries have been paying for them so now the this proposal would actually shift that a little bit would say ok so the lower levels increase to lower levels and in in

other countries imports of all have been paying for this so let's let's tax the rich people also and this is interesting also because they're not talking about a tax on cash which can move very quickly but they're talking about a tax on on assets that cannot move like really state and so this will be this will face a lot of resistance but if it actually does get pushed through it will be a very new development that may have major consequences but it sounds like a mountaintop but now cyprus will have their sovereign gold reserves rated in exchange for a bailout what happens when they go to italy has got twenty four hundred tons of gold it will italy simply lay down and give their gold to berlin or will they may be decide that they don't want to give away their gold or anything. i don't think italy will lay down at all i don't think i don't think italy is cyprus italy is

a large country with a substantial industrial base banking is not a huge part of the economy and. the part in italy that is not doing well is actually the industrial part and. so i don't think they talian zwolle wall yields to the pressure of selling the gold i think right now there's a lot of discussion in italy whether to stay in the euro or not and whether to greed to a more sturdy measures or not so at this level already there is resistance to a any kind of torture imposed bailout so i don't think that it will sell its gold but the pattern that we've seen so far and we reported on the show back when goldman sachs and the pump and drown and john paulson colluded and they tapped greece destroyed the economy and then they put greece's gold up for sale in cyprus

these guys that had funds in the government colluded to attack the government and now they have to put up gold to pay off the debts that were imposed on them from these outside marauders and had funds and what i call financial terrorists in the case of italy sure it's nice idea they don't want to give away their twenty four hundred tons of berlin but this is a currency war they'll stop at nothing if berlin if italy doesn't give up their gold who knows what berlin what germany. will do to get their hands on their on their gold now let's talk about california for a second year in california what do you make of the huge increases in pension contributions to cowper's that mean is a pal of these will now have to pay looks like the pension accounts are now being raided your thoughts wolf right in california of course we've got the same problem that people in greece have and which is we have huge unfunded pension liabilities we have. deficit's we have every financial issue they have for we what we do have

and we have high unemployment in california what we do have is a pretty sound high tech economy and and lots of good functional agriculture it so now we have to figure out how to pay for the promises we made as . it's a deal or boats of being bought over the many years with these promises and so now it's time to pay them and in our most recent bankruptcy case here in the city of stocky we discovered that in fact the courts are now allowing. pensions to be thrown into bankruptcy proceedings for the first time and which means that when there are bankruptcies and municipalities in california pensions may have to get a haircut and then they happen and one in the number of ways and one which is to

raise contributions that will be to do no of the benefits and this hasn't played out yet but it contravenes a california state law so we'll have to see how that that washes out and so it's not quantitative easing in countries where it's a forced transfer of wealth from savers to speculators using artificially low interest rates then we had outright confiscation whether it's m.f. global or cyprus now you're saying that the laws and by laws that govern pensions are being changed so that these speculators can have access to pension money and of course there's another problem in the pensive business because whether it's calipers or roberts the trial remember he was managing the orange county pension they're open to corruption cowper's famously bought into a bad lehman brothers paper even though i for one told them it was a corrupt corrupt situation but they are obviously and a corrupt institution so you've got corrupt management you've got plus the government and corporations that are a lot of them so. toward stealing people's wealth and at the end of the day i guess

the new governor of california jerry brown although he's doing seemingly some making some progress there the state it's a state going to get out of the fix that it's in what do you think wolf. well it depends on the economy so far the high tech industry funded by venture capital has been booming the last couple of years and agriculture is doing very well in california that is then economies are not doing that well and unemployment is still relatively high in california so i don't know if if this economy will stay in a growth mode for long enough to pull california out or whether this was it last two or three years it's going to slow down again and we'll go back where we were which is which is you know borderline bankruptcy for the state and i all i want to get your comment on whether what we see what appears to be the case of incredible

all levels of corruption in wall street in washington and municipal government it seems i what we're seeing is really a two tiered financial racket where those with access to government authority can take pretty much anything they want to get a nice retirement if that's their goal while those poor people working outside of the government outside of this of this racket are really being abused i mean it's really a case to racketeering in america in california anywhere anyplace where central bankers have their way is that my in my exaggerating in your opinion or is this is this what is your what is your thought on this is this really as corrupt as it looks wolf. well i don't think you're exaggerating i don't think anyone can exaggerate about the corruption that central banks often gendered and as we have already seen. through the audits of the fed a couple years ago amount of corruption going on right in the middle of it and this

is happening everywhere the central banks are out of democratic control so i can do whatever they want to and they don't have to account to two people there is an audit ok julie when it's when congress forces upon them and that audit is only partial so that they know they're there they're really free to do whatever they want to and so they have right now they're you know handing out eighty five billion dollars a month at the fed it goes to. banks and they do with it whatever they want to and ideas that it flows into the economy and it does flow into the economy at the at the very high levels it does not flow into the economy at the low levels and people have not been benefiting from it at all right now it's it to follow up on this corruption between washington and wall street earlier this week without much attention new legislation was passed overturning some of the stop training on congressional knowledge or stock act so now there are

connected staffers in washington able to trade on inside information they have the legal right to do so and this is an open pipeline now between lawmakers in washington who might be passing laws about drugs or manufacturing or mining or margin requirements or banking regulations directly a pipeline to wall street where insiders in washington can benefit and profit from trading on inside information it's canonized in law by this stock act that allows us to take place yes what do you think think of this wall effectively there will be no chain. that has always been going on that's always been a cesspool of corruption this sort of thing and the effort to to write a law to prohibit that obviously or short lived and so now we're back to war it is all out and and it will continue to happen every every study that looked into this

has documented how how insiders in washington trade on legislative information and how profitable that is and obviously congress doesn't want to stop it because that benefit from it themselves now there seems to be a coordinated effort to corral the population into the stock market trading at all time highs and away from things that might give consumers or citizens maintenance in their purchasing power such as gold for example there was a massive gold recently but the stock market even though the g.d.p. is down wages are down jobs are down corruption is high everything you would normally associate with a stock market in trouble is completely divorced from the current crisis in the stock market is this a bubble waiting to burst wealth. it is definitely a bubble waiting to burst and as we have known from from prior bubbles so long as

the stench of banks are willing to inflate bubbles they are cheerily able to do so at some point this becomes impossible and so now we we are hearing lots of discussion at the fed about stopping the current program. printing eighty five billion dollars a month and when that stops for sure the bubble will blow now we have seen. a shakiness recently in the stock market that we haven't seen in a while and so i think there's a lot of resistance right now to buying more stocks as smart mice trying to get out but the american public hasn't fallen in love with stocks yet and doesn't seem like it's going to so this will be will be an interesting scenario to see and i doubt i mean i don't predict stock markets but i doubt that it can go much higher from here it's just it's just logically difficult to justify. well for a karata time thanks so much for being on the kaiser report thank you max i mean

all right that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i'd like to thank my guest wolf rector of testosterone dot com if you like to contact us you can e-mail us at kaiser reported r t t v dot ru or tweet us at kaiser report until next time x. kaiser same value. isn't on the problem. because no one thought to drink no good school. when you are far. rather local what's not shown up on peas in a while in the local needs. one of. these. done for me. i was fired i must fight. i'll fight.

her right. leg. more news today. these are the images cold world has been seeing from the streets of canada. the giant corporations are the day. sure. to build a. mission

to teach me.